S. 271AAA : Penalty-Search initiated on or after 1st June, 2007– Retraction of statement–Filing the return admitting the additional income after retraction the assessee is not entitle to exemption-No requirement of recording satisfaction before imposing penalty-Immunity from penalty–Conditions to be satisfied cumulatively i.e. surrender undisclosed income and to specify manner in which such income derived ,and pay taxes with interest in respect of undisclosed income along with return. CIT(A) has the power to enhance the penalty.[S. 132(4), 251, 271AAA(2)]